Deutsche Bank, Merrill Lynch and Morgan Stanley have listed a total of 14 structured products on the Dubai International Financial Exchange following the launch of the exchange’s TraX platform, Hedgeweek reports.
DIFX TraX is the first structured products platform to be created by an exchange in the Gulf Co-operation Council region. The 14 TraX products listed on August 28 include securities that give exposure to shares listed on the Dubai Financial Market and the Abu Dhabi Securities Market, as well as securities linked to commodities such as oil and sugar.
“DIFX TraX fills a glaring gap in the capital markets, offering for the first time structured products that are based on regional assets and are listed in the region,” Says DIFX executive officer Hamed Ali.
Executives of Deutsche Bank, Merrill Lynch and Morgan Stanley took part in a conference held at the Dubai International Financial Centre to launch the DIFX TraX platform, along with three regional brokers, EFG-Hermes, Mashreq and Mubasher.